A new market report published by Transparency Market Research, titled, ‘Automotive Rear Occupant Alert System Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’, anticipates that the automotive rear occupant alert system market will reach nearly US$ 800 Mn by 2027, increasing at a CAGR of nearly 20% during the forecast period.
According to the new TMR report, the global automotive rear occupant alert system market is expected to expand at a CAGR of nearly 20% between 2019 and 2027. The market is anticipated to be driven by a range of political, economic, social, technical, and industry-specific factors. Currently, transforming trends among customers in regards with the safety features and strengths of vehicles are prompting automobile manufacturers to develop strong and safe vehicles. This is expected to boost the demand for more safety features in vehicles during the forecast period. Major players operating in the market are concentrated on the development of different advanced technologies for their vehicles and driver safety. Companies are integrating many safety features in their vehicles, such as air bags, seat belts, and driver monitoring systems.
From a geographical perspective, the global automotive rear occupant alert system market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Among these, North America held a dominant share of the global automotive rear occupant alert system market in 2018. Key factors driving the automotive rear occupant alert system market in North America include rise in the number of vehicle users owing to huge population, augmenting purchasing power, increasing wages, and improved standard of living, along with growing concerns regarding safe and secure vehicles. Apart from North America, Europe is also expected to witness quick rise at a CAGR of nearly 23% during the forecast period.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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